Recently Married what to do now? keep it or sell it?
My suggestion to you would be keep the condo especially if it is in a prime location e.g. downtown or on a subway line, close to all amenities. If this describes your condo you should find a Realtor or a professional property manager who can handle all the management/rental duties for you. This will allow you to sit back collect a cheque and let the equity build on your investment.
If your condo pays for itself let someone else enjoy the property while it appreciates in value. Remember to stay informed of the local real estate market and keep informed on the status of your investment. Always keep up to date to ensure your condominium complex investment does not end up being a liability for you.
After 5 years if you have not been actively involved now is the time to involve yourself more and possibly make a decision looking forward to selling the investment based on your findings and future needs of the complex.
When looking for a property manager get a break-down on the services they will provide to you and for what charge as the services offered between managers could indeed vary.
Source…. Rob“torontorealty” Paterson
